Stratagene Corp.

La Jolla, CA: (May-03-07) Third Wave Technologies, Inc., a genetic analysis products manufacturer, filed charges against Stratagene Corp and reached an out-of-court settlement regarding the patent infringement issue litigated in US District Court in Wisconsin in September 2005 and appealed to the Federal Circuit Court. In a settlement reached, Stratagene agreed to pay Third Wave $10.75 million in cash as full satisfaction for the judgment. The companies also have agreed to stay any further litigation for nine months. Stratagene and Third Wave have also agreed to a process to resolve that case or any other disputes through an agreement that enables either company to elect to arbitrate a patent dispute or to resolve it through a royalty-bearing license. Without the settlement from Stratagene Corp., Third Wave would have recorded a loss of about $6 million. [JOURNAL SENTINEL: GENETIC ANALYSIS PATENT]

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Published on May-7-07